What the dollar will be this summer
The Ministry of Finance distributes money to banks in unfavorable conditions. Dividend the company is able to support stock markets. The owners of the company “the Sum” was arrested.
It became known that the Ministry placed 500 million dollars among Russian banks. At the same time, 425 million single Bank, whose name was not disclosed. According to authorities, the funds were placed under 1.4% per annum, most recently, the Finance Ministry held $ 4 billion by almost 5% in foreign markets.
Meanwhile, investors expect some positive international stock market on the background of the upcoming dividend period. Strategists at Morgan Stanley claim that according to their calculation between March and may to investors ‘ accounts should reach about $ 400 billion. By the way, the dividend period will not only in international markets but also in Russia. This factor is indeed able to support the Russian stock market.
Today at auction Moscow exchange rate of the dollar is around 57 rubles 35 kopecks, the Euro traded at the level of 70 rubles 60 kopecks. The MICEX index is close to 2275 points, and oil quotations of mark Brent are trying to get close to 70 dollars per barrel. Bitcoins according to CoinMarketCap cannot exceed $ 7,000.
There is also negative news for the Russian stock market. This detention of the company’s owners “Sum” Ziyavudin Magomedov and his brother Magomed Magomedov. Structure of the brothers owned such companies as “far East sea shipping company”, “NNTP”. Both stocks of issuers on MICEX in the morning show negative dynamics. The consequence suspects the brothers in the theft of 2.5 billion rubles in the construction of the stadium “Baltika” Kaliningrad and the extension of Krestovsky island in St. Petersburg. Investors are concerned that the detention and the criminal case may lead to the arrest of the shares Magomedov.
If you look at the Russian currency market, here all remains without any significant changes. We continue to believe that the second quarter will be quite difficult for the Russian currency market. There are downside risks to oil prices, which fail to break above $ 70 per barrel, the growing geopolitical and diplomatic tensions will put pressure on the Russian market. In addition, in the second quarter to be a big payment on foreign debts. All of this should lead to growth of dollar rate in the range of 58 to 59 rubles in April. But by the summer we should not exclude lifting of up to 60 rubles per unit of American currency.
The head of the analytical Department of the company,